To become a full service bank it then had to migrate services provided via other financial
services firms to its own core banking platform. But it experienced a period of downtime
during the migration, during which some customers were unable to access their accounts.

In May 2011 it completed the migration of 2.8 million credit card customers to its Fiserv
platform from RBS systems.

“This is a significant point in the bank's development, having built a robust and scalable
system infrastructure within a three-and-a-half year period,” said Tesco's financial statement.

“Tesco Direct is a key part of our multichannel
strategy going forward, but its path to profitability has progressed less quickly than
anticipated. It is a clear priority for the year ahead – and the one which is receiving most of our
focus in this area – to ensure that we have a profitable, scalable model before we look to
accelerate growth,” said Tesco in its results statement.

The firm described how it was harnessing big data to increase sales: “Using insights from
Dunnhumby, over 60% of our entire food range is now differentiated by socio-demographic groupings
across all of our stores.”

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